• Collins Barrow

    Collins Barrow WCM LLP

    With offices in Carleton Place, Cobden, Morrisburg and Winchester, we serve as primary business advisers to small and midsized owner-managed businesses in the agriculture, construction, manufacturing, retail, professional services and not-for-profit sectors.

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    U.S. Tax Reform Punishes U.S. Citizens Abroad

    From a taxation perspective, the period from July 2017 to February 2018 has been one of the most tumultuous in recent history for Canadian private company owners. For those who also have the privilege of being U.S. citizens or resident aliens, things have gotten downright ludicrous. In a rush to pass into law the most sweeping tax reform in a generation, U.S. lawmakers have stuck U.S. citizens resident in Canada with retroactive, double taxation, the elimination of much of the tax deferral previously available in their companies, a looming April 17th payment deadline and virtually no rules or regulations to guide them through the chaos.

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    Should you be registered for Canadian GST/HST?

    Foreign companies, individuals and organizations who provide goods and services to customers in Canada should consider whether their business activities in Canada invoke a requirement to register for the Goods and Services Tax / Harmonized Sales Tax (GST/HST). 

The Latest at Collins Barrow Morrisburg

  • Collins Barrow partner nominated for Business Person of the Year

    Collins Barrow partner Janet Foster recently received a nomination for the Carleton Place and District Chamber of Commerce’s Business Person of the Year Award. In her practice, Janet works extensively with owner-managed businesses, advising them on corporate and personal tax planning, accounting and compliance.

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    The capital gains exemption: beware of in-law quirks

    In Canada, qualified farmland can be transferred from one generation to the next for any dollar amount between cost and fair market value (FMV) at the time of the transfer. Any capital gain triggered by the transfer is covered by the capital gains exemption (up to $1,000,000 for farmland), assuming the land is qualified farm property.

    Restricted Farm Losses Bulletin

    Unsure if you can deduct your farm losses? The rules have changed! When farm losses are incurred by a taxpayer, they may be non-deductible, restricted or fully deductible depending on what class the taxpayer falls under based on the farming activities performed during the year.
  • Collins Barrow WCM LLP announces new Managing Partner

    Winchester, ON – Collins Barrow WCM LLP recently appointed Kathy Byvelds as Managing Partner. A partner at the firm’s Winchester office since 2004, Kathy brings a wealth of experience to the role. While her practice has focused on tax advisory, she also has expertise in entrepreneurial services and succession planning.
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    Collins Barrow Montreal promotes Constantina Gomatos to principal

    Montreal, QC – Collins Barrow Montreal is pleased to announce that Constantina Gomatos has been promoted to principal. Practicing tax since 2004, Gomatos has dealt with a diverse clientele, which includes owner-managed businesses, their shareholders, their corporations and foreign entities operating in Canada. She also works with Canadian entities operating in foreign jurisdictions in a variety of industry sectors, including manufacturing, distribution, real estate and retail. 

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    Taking action on passive investment rules

    If you listened closely on budget day, you could hear a sigh of relief across Canada after the federal government announced new rules on passive investment income. Largely considered a fair improvement from previous iterations of the rules, many tax practitioners welcomed the changes. However, not all were pleased. And some were far from relieved.